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Spark’s data lead, Qasim Afghan, told LNG Prime on Friday that Spark30S (Atlantic) LNG freight rates have risen $7,500 to $29,500 per day, the largest week-on-week increase since June.
“Conversely, Spark25S (Pacific) fell for an eighth consecutive week, dropping by $500 to $23,500 per day, the lowest Pacific freight rate since June,” Afghan said.
European prices up
In Europe, the SparkNWE DES LNG rose compared to last week.
“The SparkNWE DES LNG front month price for November increased for a second consecutive week, rising by $0.11 to $10.440/MMBtu this week, whilst the basis to the TTF narrowed to $0.640/MMBtu,” Afghan said.
He said that “the US front-month arb (via the Cape of Good Hope) opened for the first time since June, pointing to Asia for the first half of this week due to an increase in the JKM-TTF spread.”
“However, that spread has since narrowed and caused the arb to close out once again, pricing in at -$0.026/MMBtu and marginally pointing to Europe once again,” Afghan said.
“The US front-month arb via Panama has remained marginally open, pricing in at $0.021/MMBtu,” he said.
Data by Gas Infrastructure Europe (GIE) shows that volumes in gas storages in the EU rose from last week and were 82.93 percent full on October 15, 2025.
Gas storages were 82.82 percent full on October 8, 2025, and 95 percent full on October 15, 2024.
JKM
In Asia, JKM, the price for LNG cargoes delivered to Northeast Asia in December 2025 settled at $11.200/MMBtu on Thursday.
Last week, JKM for November settled at 11.060/MMBtu on Friday, October 10.
Front-month JKM dropped to 11.040/MMBtu on Monday, 11.030/MMBtu on Tuesday, and 11.016/MMBtu on Wednesday.
State-run Japan Organization for Metals and Energy Security (Jogmec) said in a report earlier this week that JKM for last week “rose to high-$10s/MMBtu on October 10 from mid-$10s/MMBtu the previous weekend.”
“JKM rose to low-$11s/MMBtu on October 7, supported by heightened geopolitical tensions following Russia’s large-scale attack on Ukraine’s gas production facilities, as well as tighter supply-demand conditions due to reduced gas supply from Norway and lower temperatures in Europe. It then turned downward as tensions eased and demand declined, falling to high-$10s/MMBtu on October 10 following reports of an agreement between Israel and Hamas toward a phased ceasefire,” Jogmec said.